Millions of barrels of Iranian crude oil have become stranded at sea after the United States (US) ended a sanctions waiver that had temporarily allowed Tehran to export oil under limited conditions. The move has significantly increased pressure on Iran’s energy sector and raised concerns about global oil supply and regional stability. Read More: Trump […]
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UAE oil exports near highest level since 2017
The United Arab Emirates’ (UAE) oil exports have climbed to their highest level since 2017, with daily shipments exceeding 3.9 million barrels in June, according to Emirati media reports. The increase marks a significant recovery in the country’s energy exports, with officials reporting that oil shipments have returned to levels seen before recent regional conflict […]
Iranian ships resume passage through Strait of Hormuz
Five Iranian ships have passed through the Strait of Hormuz following the reported lifting of a US naval blockade under a recent agreement between Washington and Tehran, according to Iranian media reports. Officials said the ships included three crude oil tankers and two cargo vessels that successfully navigated the strategic waterway. The Strait of Hormuz, […]
Oil prices fall as some ships resume Strait of Hormuz transit
Global oil prices dropped sharply on Monday, easing from recent highs as some vessels resumed through the strategically vital Strait of Hormuz amid ongoing geopolitical tensions. Read More: Oil rises further above $100, most Asian stocks fall as Iran war rages Brent crude futures fell by $2.93, or 2.8%, to settle at $100.21 per barrel, while […]
India to cut Russian oil imports
NEW DELHI – Indian refiners are preparing to drastically reduce imports of Russian crude oil following new U.S. sanctions targeting Russia’s two largest oil producers, Lukoil and Rosneft, industry sources confirmed Thursday. The move is expected to ease trade tensions with Washington, which has imposed steep tariffs on Indian exports in part due to its […]
Asian shares rise,oil extends gain after OPEC+ deal
SYDNEY: Asian shares were cautiously higher on Thursday, while the dollar eased ahead of US non-farm payrolls data, and oil prices gained for a fourth day after deep production cuts pledged by OPEC+ members. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.4% in early Asia trade, as US futures gained. The index is […]
Oil producers to consider output cuts after price slide
ABU DHABI: Major oil producers meet in Abu Dhabi on Sunday to consider reverting to output cuts after a sharp slide in crude prices revived fears of a 2014-style crash. Oil prices shed a fifth of their value in just one month after surging to a four-year high in early October, driven by a combination […]